Article Number : 1250 |
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| Date | 8/3/2006 5:33:34 PM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=1250 |
| Abstract | For too long, subcontractors have been without the proper tools to make informed financial decisions on choosing the proper general contractor. Subcontractors who purchase materials, pay for labor and extras are the true creditors of the construction industry... |
| Article | For too long, subcontractors have been without the proper tools to make informed financial decisions on choosing the proper general contractor. Subcontractors who purchase materials, pay for labor and extras are the true creditors of the construction industry. Until now, most subcontractors have had to sit silently and wait for payments to arrive, if they arrive at all. Thousands of subcontractors a year take crippling financial hits without any warning, but now, the construction industry has a credit bureau all their own: The Forino Report. The Forino Report is a groundbreaking new product designed to offer subcontractors a tool to combat losses associated with general contractor negligence. With a new interactive website: www.theforinoreport.com, subcontractors now have the opportunity to minimize risk and improve the overall condition of the commercial construction industry with industry specific intelligence, reports and credit backgrounds on general contractors in the lower 48 states. The Forino Report provides detailed information on general contractors’ speed of payment, liens, extras, back-charges, jobsite conditions and project management ratings, and translates all of this information into a simple and easy to read report. The Forino Report is not designed to harm general contractors, but rather as a tool to improve the entire industry by helping subcontractors mitigate two of the most damaging misconceptions in the industry: (1) that more work equals more profits, and (2) the “one bid fits all” model. Bidding jobs to general contractors should be priced according to risk. Better paying general contractors should receive competitive bid prices, while more risky general contractors should receive higher prices. Remember, better customer selection will often lead to higher profits and stronger cash flow. Ultimately, The Forino Report is a win-win for the entire commercial construction industry. General contractors who receive a favorable ranking will have a powerful tool to help capture new bids, while subcontractors will now have a tool to prevent financial losses that could cripple their business before they happen. Log on to www.theforinoreport.com to gain access to powerful business intelligence tools previously unavailable to the commercial construction industry. And, before your next bid: Pull a Forino Report. For more information: Contact Jason Cramer (jcramer@theforinoreport.com) or Charles Bjernestad (charles@theforinoreport.com) by phone at: 1-800-326-5148, by email at: info@theforinoreport.com, or visit the web at: www.theforinoreport.com |